short trader of the Wall Street for his 139. upcoming birthday.
If I'm right we are going to print in gold this June a low which we will never going to see again in our life.
Once this decline is finished gold will skyrocket above 2000 in the following years.
Everything is ready technically , timewise and currency wise for this short.
- We broke the the daily yesterday. All the retail technical traders are long.
- We tested back the double top's neckline
- Everybody is on the board for the 2nd phase of the market. Sentiment is hyperbullish.
- I wish I could see yesterday's :(
- We are at day 8 - if it's the 5th daily cycle of this IC this is the time to turn down.
- is leaving overbought territory. It's usually a sign of a cycle top
- The dollar is breaking out of the , the EurUsd is printing a daily key reversal...
- We have a FOMC meeting next week with a possible rate hike (or if there is no rate hike we will get a hawkish speech which will strengthen the dollar.)
- We have a brexit poll on the 23th of June ( Euro is getting weaker )
- Last days' was low. If I'm right we will see big in the upcoming day's panic
- ... and we might have Jesse at our back.
I don't need anything else.
I'm looking forward to see a tag or a breakdown of the 200 DMA.
Levels to watch:
It's time for the market to throw a curveball to the longs who think gold will skyrocket and they can make an easy money on their longs.
Yes it will but first we have to salute to the Great of Wall Street with this short trade.
And the dollar in a rally mode. Stocks are in a rally mode.
Volume is low again. I think algos and retail is buying. The wedge still has to breakdown... In the afternoon we had a false breakdown.
MACD crossed down again and printed the 3rd diverging top.
We will have some kind of correction.
I never short. When I predict something going down I just sell and wait for a good point to re-enter. When I exit gold during down times, I usually hold the cash or invest in something else than shorting what I was once long on.
Gratitude goes a long way my friend :)
A suggestion is to go back and read another related idea, for more background. If nothing else, just to enjoy the headlines, which add life, in my opinion.
It is great to learn more about Livermore's history... Roger Babson predicted the Great Depression a few times, he lost money... But when it really counted, like Livermore Babson saved his clients a ton of money and made him and his clients a fortune. Many very successful people lose money, they learn from their mistakes, adjust and become more successful.
I started second guessing my analysis on NUGT, found this website and Arpi... My trade was correct but a little early on timing, held my NUGT (I was ready to sell for a lose) and made a solid profit. Without Arpi and this site I would of sold a week early and continually second guessing myself. Thankfully I found this community :). Keep up the good work Arpi...